In today’s consumer landscape, loyalty retail programs are seamlessly woven into both traditional brick-and-mortar stores and the digital realm of eCommerce. They serve as powerful tools to enhance customer retention, and to truly understand their significance and growth, we break down the history of loyalty retail programs below. 18th to…
The holiday shopping season has arrived, and we are already seeing some fascinating shifts in consumer behavior and spending habits. From Thanksgiving weekend to Cyber Monday and beyond, the landscape of retail continues to evolve, blending in-store and online experiences with new trends in consumer preferences. 2024 Holiday Shopping Trends …
Generative AI tools have advanced tremendously in recent years, moving beyond novelties to becoming indispensable tools for companies to leverage. The ability of AI to generate images and videos, not just text, has caught the attention of many retailers, with brands such as Levi’s, Dove and Nike already capitalizing on…
In an era characterized by an overwhelming influx of new product launches and constant, in-your-face advertising, the concept of underconsumption has emerged as a compelling countertrend. Underconsumption – broadly defined as the practice of using fewer resources and making more deliberate purchases – is gaining traction in the beauty industry,…
The year’s largest merger is here: the Mars Kellanova Merger. If you have never heard of Kellanova, you’ve likely heard of the company it was recently formed out of – Kellogg. Kellanova was launched in 2023 (that’s right, exactly 317 days from this announcement to be precise), as a carveout…
As we move further into 2024, inclusivity in consumer healthcare marketing will continue to be more of a strategic imperative rather than just a nice-to-have for brands. We know that Generation Alpha is more value-motivated than the proceeding generations (as we’ve seen reflected in their skincare and beauty purchasing) but…
Phygital marketing represents the fusion of physical and digital marketing tactics, seamlessly integrating in-person and online interactions into a unified marketing approach. In this piece, we’re exploring phygital marketing strategies and how brands can find success at this critical intersection of physical and digital marketing. What is Phygital Marketing? While…
Advanced data analytics is now a table-stakes tool for inventory planning. Some estimates show that applying AI-driven forecasting can reduce errors by between 20 and 50 percent, reducing lost sales and product unavailability by up to 65 percent. Sharper demand forecasting also reduces waste and unsold products that need to…
Against the backdrop of both global challenges and innovative opportunities – ranging from ongoing geopolitical instability and economic uncertainties to the accelerating pace of technological innovation and R&D – life sciences companies are continuing to navigate a complex and rapidly evolving landscape. In this trends report, we outline the…
As we begin 2024, the wine, spirits, and beer industry is still reeling with the changes in the aftermath of the pandemic. The greatest challenge facing the industry is dealing with the ever-changing ebbs and flows of alcohol consumption trends and demands. As consumers adjusted to a more home-centered…
In 2023, many consumer products (CP) companies focused on profitability and optimization of existing assets instead of making large growth-oriented investments in their business. Acquisition activity also slowed, as many companies focused on refining their core offerings in preparation for moves in the future. In addition, a challenging financing environment…
Novo Holdings, the parent company to Novo Nordisk, announced a deal this morning to acquire Catalent, a leading global CDMO known for its broad end-to-end CDMO capabilities. The deal, valuing Catalent at $16.5bn, is designed to help improve supply challenges that have been holding back the growth of their blockbuster…
The youngest generation of shoppers – Gen Alpha – seems to be dominating news headlines lately, flocking into retail stores like Ulta and Sephora over the holiday season as they shop for the perfect products for their 10-step skincare routines and “Get Ready with Me” TikTok videos. As Ulta Beauty’s…
As society transitions to a more xintrospective and health-focused world, we’re seeing growth in skincare trends, wellness-oriented products, and new market segments within the beauty industry. This new integrated approach to wellness is impacting the beauty community as consumers focus on products that incorporate both natural ingredients and non-traditional products…
The consumer products (CP) industry, along with many others, has experienced an evolution in recent years. In our 2023 CP Trends, we note two key trends – defining omnichannel strategy and execution, and implementing digital marketing strategies – which serve as drivers for further growth and innovation in a competitive…
With the increasing availability of health information, there has been a rise in demand for at-home diagnostics companies that enable individuals to test their own samples and receive results without visiting a healthcare provider. This raises concerns about the data and privacy of consumer health information. At-home diagnostics testing handles highly…
As sustainability becomes an increasingly important consideration in all industries, it’s inevitable that luxury retail will also continue to experience increasing demand for more sustainable products and practices – particularly as a new market segment of younger and eco-conscious consumers, such as Gen Z and Millennials, begin to fuel the…
During the COVID-19 pandemic, eCommerce grew drastically in several industries, with online grocery shopping becoming a popular option. Many customers sought to avoid in-person shopping altogether, so grocers began to offer curbside pick-up and delivery for customer purchases. As the impacts of the pandemic are now waning, digital grocery shopping…
For retail customers, shopping is an inherently interactive process. Even so, a reported 67% of apparel and 74% of footwear spending is done online. With so much emphasis on providing an authentic brand experience regardless of the channel, brands have experimented with creative ways to demonstrate a strong online presence…
An international biopharmaceutical company was planning on implementing a new quality management system (QMS), Veeva Vault QMS. This would be a multi-year implementation that affects thousands of employees across the globe. The biopharmaceutical company was looking to engage in a holistic end-to-end organizational change management (OCM) strategy to drive the…
Launching into a new market requires careful consideration of the industry trends, target consumers, competitive landscape, product mix, and operations investment. This is no different for the pet food industry. The pet food industry is growing yearly and is expected to reach an 8% CAGR by 2023, with consumers spending $51…
Generative AI, also known as generative adversarial networks (GANs), is a subfield of artificial intelligence (AI) which has the potential to change the retail industry. This technology uses deep learning algorithms to generate brand new data and content based on user prompts. In contrast, other AI like reinforcement learning is…
In our fast-paced and ever-changing market, understanding consumer motivations and preferences, specifically for younger generations, is key for organizations looking to remain profitable and relevant. For many CP companies, the growing trend of hyperlocalism is one way to achieve that success. So, what is hyperlocalism? What is Hyperlocalism? Hyperlocalism refers…
In today’s ever-changing consumer landscape, the alcohol industry has shown fascinating transformations to meet the demands of shifting consumer tastes and preferences. 2022 marked the first year where the spirits market share surpassed the beer market share in the U.S. beverage alcohol market. Largely attributed to the impacts of the…
In January, our retail experts made a number of predictions about the apparel industry outlook for 2023. As we move into the second half of the year, let’s see how well our predictions held up for the five trends discussed in our 2023 Apparel Industry Trends report. Trend Review Trend…
Currently the youngest demographic, Generation Alpha is becoming an increasingly more important customer base for the beauty industry to target. Gen Alpha consists of those born between 2010 and 2024 and is projected to consist of at least 2 billion individuals. This generation’s ties to digital media and technology are…
The use of password managers to create, store, and reuse passwords across different systems and applications has gained popularity in our personal and professional lives. There are several benefits associated with the use of password managers. They enable users to establish strong passwords that are not easily hacked, copied or…
A global leader in the consumer products industry enlisted Clarkston to create a three-year strategic roadmap with actionable initiatives to address key challenges in its export business and prepare for future growth. The CP company experienced tremendous growth in the past several years, but as revenue increased, the company has…
Increasing supply chain pressures are forcing retailers to reconsider each portion of their inventory strategy. They are trying to find the best way to get the right product to the right location at the right time. Modern omnichannel customer experiences add complexity to this. Enabling store order fulfilment (ship-from-store) or…
As purchasing and shopping experiences become increasingly digital, the need for a strong digital marketing strategy is apparent perhaps now more than ever before. While influencer marketing has been around for decades, the industry has more than doubled since 2019. Not only is influencer marketing becoming a “trendy” strategy in…
Consumer engagement is critical for any consumer products company today. Understanding your consumers, their motivations, and their connection to your product is what drives success, and it needs to be a cross-functional effort. In our last episode of Taking Stock, we dove into the concept of consumer engagement – what…
Inflation has presented a serious issue for retailers throughout the last year. Increased costs may mean lower profit margins if in-store prices are not raised, but raising prices could push loyal customers away. Sustained high prices are also squeezing shoppers’ wallets as household expenditures rise and customers must prioritize “essential”…
Life sciences companies are putting more thought and strategy into utilizing cloud solutions not only for their enterprise systems, but for their laboratory and quality systems as well. The cloud, simply put, is the ability to access servers, software, and databases over the Internet. This works by using a virtual…
As the retail industry continues to evolve, one of the greatest challenges in creating an omnichannel experience is converting website visitors into loyal, returning customers. To ensure a seamless and consistent user experience throughout the customer journey, businesses must prioritize meeting customers’ needs and providing easy access to their brand…
Clarkston’s LIMS experts recently attended LabVantage’s North American Customer Training and Education Conference (2023). The event brought the LabVantage community together to gain new skills, share best practices, network with fellow LabVantage customers, and discuss new solutions to help solve the latest challenges within the LIMS space. Below, Tina Yauger…
Clarkston’s Diversity, Equity, and Inclusion Consulting Practice recently partnered with a global luxury brand to enhance their approach to internal communications relative to DEI. Download the full corporate DEI communications plan case study below to learn more or contact us to learn how Clarkston can partner with businesses like yours…
Traditional methods of recruiting clinical trial participants include tapping into healthcare providers such as doctors or clinics, patient advocacy groups, online registries, or referrals. However, to seek out a more diverse and representative group of potential patients, trial coordinators and sponsors might consider looking to other sources or methods to…
Few new technologies have taken the tech, business, and academic world by storm quite like ChatGPT, a generative AI chatbot developed to perform everyday tasks such as answering questions, writing code, or drafting cover letters. A range of plug-ins have allowed for even more applications of this tech, further driving…
It appears the metaverse is dominating conversations and news headlines more and more, but perhaps for all the wrong reasons. You’ve probably seen some of the latest updates, like Zuckerburg burying the metaverse and Microsoft saying “see ya” to it. While there is truth to these updates and they are,…
When was the last time you really had fun shopping? According to a recent Squire Patton Boggs report, entertainment is “the most important aspect of a meaningful retail experience.” Moreover, younger shoppers care even more about their experience while shopping. In response, retailers continue to find new ways to bring…
